Prepare balance sheet nd p&l a/c

Save Share

This query is : Resolved

jinesh (Querist)

24 April 2013 hello

Dear Sir,
I want to know i have a client(status: individual) who is doing Agricultural activity. he has files return till A.Y.2009-10.Now he want to file Return for A.Y.2012-13 and 2013-14( because earlier can't be filed). He has filed ITR 4. he has business of agriculture where he earns 2 to 2.5 lacs. and doing part time job where he earned salary. i want to prepare Balancesheet and p&l A/c for him so how can i prepare and show his Income agri as well as part time ) into balance sheet and p&l account please guide me on this.

what inputs show in p&L and balancesheet so that the same is effected in ITR 4 at the time of filing.
pls help me.

RAJU S NARAYANAN

RAJU S NARAYANAN (Expert)

25 April 2013 you have to show agricultural income and salary in profit & loss account. while preparing ITR, salary is shown separately.

jinesh

jinesh (Querist)

25 April 2013 so agri income and salary income i will show it as direct income in my statement and then charge some expense for agri in p&L account. ok. but figure that is shown as a profit which include both salary and agri income so net profit i will shown in proprietiry p&l account. how i can show and where to show it pls explain in detail.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now